Discrepancies in Interest Income Data on E-Portal: Bombay HC quashes Notice u/s 148 of Income Tax Act [Read Order]

The court opined that the Assessing Officer was required to undertake an exercise to verify the correctness of the electronic information
By Ashkar Tovarishch - On August 2, 2024 4:52 pm - 2 mins read

The Bombay High Court quashed a notice issued under Section 148 of the Income Tax Act, 1961, after discovering discrepancies in the interest income data provided by the electronic system. The petitioner, Benaifer Vispi Patel, disclosed an interest income of Rs. 8,72,800/- from Canara Bank in her tax return. However, she received a notice under…

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